Greenock has a diverse economy, including construction and utilities, manufacturing, retailing and public sector. The town has a population in the region of 42,000 people and a primary catchment of approximately 100,000 people. The property forms part of the Oak Mall Shopping Centre, a fully enclosed 283,000 sq ft shopping centre which is located at the eastern end of West Blackhall Street, in the heart of Greenock town centre. Major tenants within the shopping centre include Primark, Wilko, Boots the Chemist, Costa, Holland & Barrett and Superdrug.

Tenure

Heritable. (Scottish equivalent of an English freehold).

Description

The property forms part of the Oak Mall Shopping Centre and comprises a ground floor retail unit with first floor ancillary accommodation.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

99 years from 14/05/1973 until 15/05/2072 on a full repairing and insuring lease

£88,200

15/05/2036 15/05/2057

Total

466.80 sq m

(5,025 sq ft)

£88,200

(1) For the year ending 31st August 2017, Boots Properties Limited reported a turnover of £28,900,000, pre-tax profits of £48,900,000 and a total net worth of £402,400,000 (Source: Experian Group 11/01/2019).(2) The property has been sublet to GR and MM Blackledge Plc t/a Bodycare until 15th May 2072 at a passing rent of £88,200 p.a.x. For the year ending 31st December 2017, GR and MM Blackledge Plc reported a turnover of £134,044,509, pre-tax profits of £2,739,038 and a total net worth of £29,873,192 (Source: Experian Group 11/01/2019).